https://www.taxtmi.com/caselaws?id=9712 The court upheld the Tribunal's decision in a tax penalty case where the penalty under section 271B was not applicable as the audit report was obtained, albeit filed late, for the assessment year 1993-94. The court emphasized that the penalty is only applicable if the accounts are not audited and a report is not obtained, which was not the scenario here. Additionally, the court dismissed the case regarding the deletion of the penalty without determining the timeliness of obtaining the tax audit report, as no default under section 44AB could be established due to the audit report being eventually obtained. en-us Tue, 24 Jan 2006 00:00:00 +0530 Mon, 29 Jun 2009 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9712 The court upheld the Tribunal's decision in a tax penalty case where the penalty under section 271B was not applicable as the audit report was obtained, albeit filed late, for the assessment year 1993-94. The court emphasized that the penalty is only applicable if the accounts are not audited and a report is not obtained, which was not the scenario here. Additionally, the court dismissed the case regarding the deletion of the penalty without determining the timeliness of obtaining the tax audit report, as no default under section 44AB could be established due to the audit report being eventually obtained. Case-Laws Income Tax Tue, 24 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9712